Bitcoin Price Prediction Breaks Out As Treasury Doubles Bond Buyback Program
- BTC trades at $69,808.01 on August 20, up 0.73%, breaking above a descending triangle that capped price since May
- Short sellers lost $2.74 billion in 24 hours, the largest single day short liquidation on record
- Treasury doubled its long-term bond buyback program to at least $4 billion per operation
The BTC price prediction turns constructive after price broke decisively out of a months-long consolidation pattern, touching levels not seen since early June. The move triggered the largest wave of forced short covering in crypto’s history, even bigger than the shorts wiped out during last October’s record crash.
Bitcoin Price Analysis: Will Bitcoin Price Go Up After Breaking the Bear Market Resistance Band?
BTC has spent since late May consolidating inside a symmetric triangle, bouncing between roughly $58,000 and $67,…
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